However, the behaviour of consumer depends on some factors. There are number of factors in the study of consumer behaviour which plays important role in buying of any new product or services from the selling firm such as customer income, culture, technology, various types of personal factors.
The responsibilities of the board of directors includes the establishment of the audit and compensation committees. The audit committee is responsible for ensuring that the company's financial statements and reports are accurate and use fair and reasonable estimates.
Role of the Audit Committee An independent audit committee is a fundamental component of good corporate governance. The audit committee is usually established by the board as a sub-committee and its powers are delegated by the board. The board retains responsibility for decisions, performance and outcomes of the audit committee and should therefore continually monitor the audit committees' activities. It is good practice for the audit committee minutes to be circulated to all board members, once approved by the audit committee chair.